New­cas­tle prof­its up, lend­ing down

Yorkshire Post - Business - - BUSINESS -

MORT­GAGES: New­cas­tle Build­ing So­ci­ety said pre-tax prof­its surged 35 per cent higher last year to £5.34m de­spite see­ing mort­gage lend­ing hit amid an “ex­tremely com­pet­i­tive” mar­ket. The mu­tual said net mort­gage lend­ing fell to £10m, down from £134m the pre­vi­ous year. But it said it has a “much stronger mort­gage pipe­line go­ing into 2016”.

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